Fintech

The prepaid card issuer will rely less on promotional marketing and more on its banking charter to drive profits, Henry said in his first public remarks since taking over as CEO in March.

C&NW Proviso, which has no website or online services, will gain a slate of new products and additional locations from the deal.

In the works for months, Mastercard Track Business Payment Service rolls out Tuesday with the goal of improving efficiency around corporate buyer and supplier payments at a time when these processes are uniquely constrained by the coronavirus pandemic.

In announcing its plan to offer a deposit account and debit card in partnership with SoFi, the mobile phone maker suggested that the coronavirus pandemic will accelerate consumers’ adoption of contactless payments.

Contactless, mobile and a retreat from cash are just the start. The coronavirus will upend the entire payments process, said Icon Solutions' Simon Wilson.

The Pittsburgh company has owned a 22% position in the money manager since 1995.

The agency will allow institutions providing 500 or fewer transfers a year to estimate costs in consumer disclosures rather than quote exact figures.

The potential for a new card scheme throughout Europe has been a discussion point surrounding the Single Euro Payment Area since its inception more than a decade ago. A new proposal could bring this concept into reality.

The Summerville, S.C.-based institution will also close two branches as part of a broader strategic effort to better service members.

Carlyle Group Inc. and Singapore sovereign-wealth fund GIC Pte. Ltd. are backing out of a deal to buy a stake in American Express Global Business Travel, which has suffered losses from the Covid-19 pandemic.